The Naval Institute Foundation Inc
THE NAVAL INSTITUTE FOUNDATION WAS ORGANIZED TO OPERATE EXCLUSIVELY TO RAISE FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES TO FURTHER THE MISSION AND POLICIES OF THE UNITED STATES NAVAL INSTITUTE.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$14.7M
+24.4% YoY
Annual Giving
$3.3M
-6.6% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$3.3M
-6.6% YoY
About The Naval Institute Foundation Inc
Based on IRS filings
The Naval Institute Foundation Inc is a nonprofit organization, based in ANNAPOLIS, MD. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $14.7M in total assets. In 2024, it awarded 1 grants totaling $3.3M. Net investment income was $226K.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $14,727,671 | $11,834,384 | $13,167,023 |
| Revenue | $6,120,881 | $9,412,802 | $5,073,698 |
| Expenses | $4,801,914 | $5,200,662 | $5,558,232 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $225,512 | $168,766 | $109,157 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
5 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RADM RAYMOND A SPICER USN RET | CEO, DIRECTOR | 10 | — |
| HEATHER LANCASTER | COO, SECRETARY, DIRECTOR | 35 | — |
| GEN PETER PACE USMC RET | CHAIRMAN, DIRECTOR | 2 | — |
| MICHAEL M WISEMAN ESQ | VICE-CHAIRMAN, DIRECTOR | 1 | — |
| RADM KENDELL PEASE USN RET | DIRECTOR | 1 | — |
| MR STEPHEN M WATERS | DIRECTOR | 1 | — |
| CDR GREGORY E GLAROS USN RET | DIRECTOR | 1 | — |
| ADM JONATHAN GREENERT USN RET | DIR. - BOARD LIAISON (THRU MAY) | 1 | — |
| MEL IMMERGUT | DIRECTOR - BOARD LIASON | 1 | — |
| MARTIN J BOLLINGER | DIRECTOR | 1 | — |
| JANE CLAYTON JOHNSON | DIRECTOR | 1 | — |
| DIRK P MOSIS | DIRECTOR | 1 | — |
| MICHAEL J SALVATO | DIRECTOR | 1 | — |
| JOHN MAJORAS | DIRECTOR (AS OF NOV) | 1 | — |
| DOUGLAS WALLEN | TREASURER | 8 | — |
| VADM PETER H DALY USN RET | FORMER CEO, CONSULTANT | 2 | — |
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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